Effective Inventory Management: Ways to Optimize the Inventory Items Accounting of an Economical Entity

Abstract

ntroduction. The problem of this scientific research is the existing gaps in inventory management of economic entities, which prevent proper structuring and organizing of the production system in a company. The aim of the research is to search for options to optimize inventory accounting and management in manufacturing companies through the development of report forms. Methods. The methods used in this study involved analyzing and synthesizing the inventory management process in agricultural holding companies. Results. The results of this article highlight the importance of accurate inventory accounting for economic entities, emphasizing its fundamental role in the financial performance of a company. Based on the importance of inventory accounting, the author suggests systematically conducting comprehensive inventory of material assets in warehouses, as well as developing key report forms necessary for optimizing inventory management processes. These forms include a form for a planned safety stock list, an evaluation report on the condition of material assets, a list of non-liquid stock parts intended for disposal, a write-off report of non-liquid inventory and a consolidated report on inventory balances. Conclusion. The research concludes that in order to achieve effective inventory management for economic entities, it is essential to establish a system for inventory accounting and control.